The IRS revised its offer-in-compromise (OIC) application package to reflect changes of the Tax Increase Prevention and Reconciliation Act of 2005. Form 656 includes a checklist designed to help taxpayers determine whether they are eligible to file an OIC before they prepare the form. Also, for OICs submitted after July 15, 2006, any lump-sum offer must be accompanied by payment of 20% of the offer amount, and any periodic payment offer must be accompanied by the first installment. The IRS said it planned to issue regulations waiving the payment requirements for low-income taxpayers and those whose offer is based solely on doubt as to liability.